OCR Text |
Show National News Summary F.D.I.C. The Federal Deposit Insurance Corporation expects to finish turning back to the Government this year the $289,000,000 put up to get the FDIC started in 1934. The FDIC then will be financed "entirely by insured (private) banks in the interest of their depositors," de-positors," but it will continue to be an agency of the Government, according to Maple G. Harl, chairman of the bank deposit insurance in-surance organization. Banks In the fourteen-year period of the operation of the Federal Deposit De-posit Insurance Corporation. 407 insured banks have been closed because of financial difficulties, and all but three of these have required financial aid from the FDIC. The other 404 banks, with 1,323,977 depositors having $512,000,000 deposits, were liquidated liqui-dated or merged with other banks under FDIC supervision. Federal Pay After a study of Federal pay scales in effect last year, the Civil Service Commission has reported re-ported that the average United States Government worker now makes $2,839 a year. Some 80 per cent of the Federal workers make from Sl,500 to $3,500 a year, 3 per cent less than $1,500 and the remaining 17 per cent $3,500 or more. House Building Builders started 90,000 permanent perm-anent non-farm dwelling units during April, according to the Bureau of Labor Statistics. This is an increase of 29 per cent over March and 34 per cent above April, 1947. New construction in April was valued at $1,269,000,-000, $1,269,000,-000, an increase of 9 per cent over March and 37 per cent over April, 1947. Tax Refunds The Internal Revenue Bureau is setting a tax-refund speed record. rec-ord. The Bureau said that checks, averaging slightly more that $40 each, have been mailed to some 26,000,000 taxpayers whose final March 15 returns showed them entitled to refunds. Some 5,000,000 more people still have checks coming. One result of the speedup is a saving to the Government in the cost of interest in-terest it must pay at a six per cent rate when it is slow in making refunds. |